Looking for Volunteers - IOTA and Tesla API Proof of Concept

[IOTerry]

I have been an avid Tesla Fan for a number of years - I waited 3 years for my "X" to arrive and was lucky enough to be one of the first to receive a production MX in Canada, having put my deposit down in the Fall of 2013

As someone who loves to be on the leading edge of what's possible, I've also been an avid fan of Crypto for many years too. My current passion is with IOTA - a 3rd Generation Distributed Ledger Technology that will change the way the world works over the coming decade. They already collaborate closely with companies like VW, Bosch, and Fujitsu in the growing mobility sector You can view one of my YouTube videos on the topic, called "100 Billion Reasons Why" here.

We're launching a unique IOTA Proof of Concept that combines my two passions - Tesla and IOTA - at an event in Toronto in late September and we're looking for Tesla Owners who are willing to participate.

If you're interested in learning more, please reach out to me by completing the contact form at the bIOTAsphere.com

I look forward to hearing from you and can't wait to share some of what we have in mind.

Terry

 

[J1mbo]

Blockchain is currently estimated to consume 73.12TWh. What an absurd waste of energy. And yet here comes a bandwagon of people wanting to waste more.

Nah.

 

[IOTerry]

Hi J1mbo,

If we were using Blockchain for our solution, I'd have to agree with you ... But We're Not!!!

IOTA is a DLT that has no blocks, no chains, no miners, no fees, is scalable, quantum computer proof, and most important of all, it is designed for IoT devices that might need to run on a single small battery for several years. IOTA is intended for Machine-2-Machine communications between autonomous devices while protecting user data. That's why the video I linked to is entitled, 100 Billion Reasons Not to Bet on Blockchain for your Distributed Ledger Initiatives.

VW will release their first vehicles with IOTA technology in early 2019 and Tesla is a perfect use case for this ground-breaking tech. Please watch the video to learn a little more about where the future is heading and then let me know what you think. I'll be the first to agree with you that Blockchain is not a viable or environmentally responsible solution - IOTA resolves these issues.

Elon Musk was ridiculed, laughed at, and mocked before the mainstream took him and his vision seriously. Please don't make the mistake of assuming that all Distributed Ledger solutions are like Bitcoin or Ethereum.

Let's engage in an informed discussion and advance the state of the world. IOTA will be at the heart of the new mobility, renewable energy, supply chain management, privacy, identity, micro-payments and more. Please have the same open mind that you ask of others when you try to explain why you'll never drive an ICE vehicle again and they look at you as if you're crazy.

 

[J1mbo]

Whatever. From the IOTA FAQ that you linked to in your OP:

Proof-of-Work: Once the tips are selected and validated for consistency, a tiny amount of Proof-of-Work is required where some computational resources must be spent to find the answer to a simple cryptographic puzzle.

Now, which other technology relies on PoW for security... hmmm... starts with a "b" and rhymes with "backpain"...

The PoW happens after the excitingly-titled "Tip Selection and Validation":

Tip selection and validation: In the Tangle a tip is a transaction which has not been validated previously by any other transactions. Tip selection is a process whereby two tips are selected at random using a specific algorithm (specifically a Markov Chain Monte Carlo Random Walk tip selection algorithm, see advanced questions for further details). Once two tips have been selected they must be validated to check that their two respective histories (the sub-tangle cone referenced by these two respective transactions) are consistent - meaning there are no double spends or other forms of cheating.

Why on earth do you need "proof of work" after "tip validation"? I know that PoW is designed to make hacking the not-blockchain too expensive. Surely the work done in the validation step ensures this, otherwise what is the point in validation? Looks like a poor architectural decision.

Sad to see so much waste for so little gain.

Final point: Musk is probably not the right person to be comparing this to.

 

[IOTerry]

Well, clearly you're not a crypto enthusiast but at least you did a little research, which is great! The Proof of Work involved in an IOTA transaction is tiny and is actually a small price to pay. Your logic could have been applied to many technologies that we take for granted today.

Autonomous vehicles and the coming Internet of Things require a protocol layer that supports the free and frictionless transfer of value and data. But don't take my word for that. The Chief Digital Officer of the VW Group is a big supporter of this technology and the first VW vehicles that implement IOTA-based solutions will be released in early 2019.

Technology that serves no useful purpose will die, but ignoring new ideas that have merit is short-sighted. Few corporations saw the point of having a website in the late 90's - but my own site was ranked by Yahoo as the 9th most useful place on the web. Almost every Musk project was ridiculed until he made folks sit up and take notice. Dismiss Distributed Ledger tech if you want, but we'll see in 10 years who has the last laugh.

Best of Luck to you.

Terry

 

[IOTerry]

I have been an avid Tesla Fan for a number of years - I waited 3 years for my "X" to arrive and was lucky enough to be one of the first to receive a production MX in Canada, having put my deposit down in the Fall of 2013

As someone who loves to be on the leading edge of what's possible, I've also been an avid fan of Crypto for many years too. My current passion is with IOTA - a 3rd Generation Distributed Ledger Technology that will change the way the world works over the coming decade. They already collaborate closely with companies like VW, Bosch, and Fujitsu in the growing mobility sector You can view one of my YouTube videos on the topic, called "100 Billion Reasons Why" here.

We're launching a unique IOTA Proof of Concept that combines my two passions - Tesla and IOTA - at an event in Toronto in late September and we're looking for Tesla Owners who are willing to participate.

If you're interested in learning more, please reach out to me by completing the contact form at the bIOTAsphere.com

I look forward to hearing from you and can't wait to share some of what we have in mind.

Terry

For those that saw my original post and for those seeing this for the first time, you might be interested in watching the recording of the live release of our Proof of Concept that turns the old car insurance model on its head. We used my Tesla Model X and the IOTA Distributed Ledger to allow insurance companies to bid on the coverage based on how the car was being driven from moment to moment.

You can see the video showing the car making the purchasing decisions in real time, here. In essence, we tapped into the standard Tesla public API and the car was able to look at all available insurance offers and choose between them. When the car was parked, the rate was very low but as soon as it was placed in "Drive", the rate went up. You expect to use more energy when you floor the vehicle, we think that advanced AI could balance the risk against the premium based on how the car is being driven. All of this was done without ever knowing the identity of the driver (we assume that the car is being driven by someone with the owner's permission, and the owner has established that they are licensed to drive). In an expanded model, drivers could provide information that validates they are licensed and authorized via fingerprint, iris or palm-vein scans but the system does not need to record or store ANY personal data.

Drive at the limit on a highway, on a bright sunny day, when the traffic flow is at that speed too and the rate the car pays will be lower than if the vehicle is doing the same on the same stretch of road in a snowstorm, at night when the rest of the traffic is moving at a crawl.

See it in action - we live-stream from the vehicle while the car is being driven so you can see how what happens in the car is acted upon by the software - leave your feedback and observations here but models like this will change the way you think about insurance in the future..

In less than a week, the video has been watched thousands of times and has generated interest from car companies, insurance companies, telcos and more, around the globe.